GENEVA, April 3 — Diamonds shine brightly at this year’s Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss watch industry to produce more subdued designs.
And while trade between Switzerland and Russia is modest, gold is the chief import, ahead of precious metals such as platinum followed by diamonds not mounted or set, according to the Swiss customs office. The group took the lead on Wednesday, saying all its brands have stopped sourcing diamonds from Russia.
“Luckily I produce in small quantities,” said Thierry Stern, who represents the fourth generation of his family at the company helm.
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